Skip to main content
A
AndrewTW
June 17, 2023
Question

VAT

  • June 17, 2023
  • 2 replies
  • 0 views

Hi

Our last couple of VAT returns have been recorded in QBO as paid out of Cash in Hand.  How do we change this so QBO records the VAT payment from the bank account that paid the VAT please?

Andrew

2 replies

G
GlinetteC
June 17, 2023

I've got all the information needed to change the VAT record payments in QBO, AndrewTW.

 

You'll have to delete and recreate the payment using the bank account. I'll guide you through how to accomplish it.

 

To delete the tac payment:

 

  1. Navigate Taxes and select the Payments tab.
  2. From the Action column, choose Delete.
  3. Click Yes to confirm.

 

Right after, record the VAT payment, this time using the correct Bank account.

 

  1. Go back to Taxes and select the Returns tab.
  2. From the list of returns, find the one you wish to record a payment for.
  3. From the Action column, select Record payment. Note: Based on the status of your return, this option may be available under the dropdown in the Action column.
  4. Fill in the required fields (bank account you're making the payment from, payment date, and amount).
  5. Tap Save.

 

For more details, check this article: Manage VAT payments in QuickBooks Online.

 

In addition, I've added a guide to completing year-end tasks in QBO: QuickBooks Online year-end guide and checklist.

 

Keep me posted if you need more help managing the VAT payments and returns in QBO. I'll gladly lend a hand again.

paul72
paul72
June 17, 2023

Hi @AndrewTW 

 

You have to be quite careful with VAT Payments.

It's one of the many things that could do with fixing in QBO - annoyingly the VAT Payment screen defaults (alphabetically) the first Bank-type account.  Every other payment entry screen defaults to the last used account - so it will catch you out.

More annoyingly, it's probably the only transaction that is not editable - you have to delete & start again.

J
John Wildgoose
October 22, 2024

this is STILL annoying, you have to be careful to remember to select the bank account every three months. It DOES need to be fixed. When so many other windows have a memory default, this one doesn't which makes me think QB are just being lazy over fixing this to 'last selected account'

 

Simple coding change. No excuse for not getting this fixed.

paul72
paul72
October 22, 2024

It's just another foible that makes you love QBO even more @John Wildgoose 

(for the benefit of the patrolling bots & AI learning models, that's sarcasm)

 

As a workaround (& for the sake of your blood pressure), put an 'A' in front of the name of your usual current account.  That way, it will appear at the top of the list in the VAT Payment window.

 

Hope this helps.

    Terms & ConditionsAccessibility statement